Hyatt Hotels has announced plans for a new Hyatt Regency Hotel in San Francisco’s south of market (SoMa) neighbourhood.

As part of this, a Hyatt affiliate has reached a franchise agreement with 50 Third Street Owner for Park Central San Francisco.

The agreement will see Park Central San Francisco join the portfolio of Hyatt as an affiliated hotel and rebranded to Hyatt Regency San Francisco Downtown SoMa.

Highgate is responsible for the management of the 681-room hotel, which will soon undergo significant renovations early next year.

Work will include complete redesign of guestrooms, meeting and event spaces transformation, ground floor lobby area and food and beverage experience.

Additionally, the fitness centre will be relocated and expanded.

Hyatt Americas development senior vice-president David Tarr said: “Hyatt continues to prioritize thoughtful growth in locations that matter most to our guests, World of Hyatt members and customers. We are thrilled to further grow Hyatt’s presence in the great city of San Francisco, which is an important market for Hyatt.

“The renovation of Park Central San Francisco will be truly remarkable, and we look forward to having the hotel join the Hyatt Regency brand to offer a seamless, intuitive experience for guests.”

The hotel will become the third Hyatt Regency property in the area, joining Hyatt Regency San Francisco and Hyatt Regency San Francisco Airport.

Furthermore, the hotel will remain open during the renovation process, which is slated for completion in early 2022.

The hotel will offer flexible meeting and event space spread over around 32,000ft2.